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14 November 2018

German holding company Bitcoin Group SE has acquired a 100 percent stake in investment bank

Bitcoin Group SE, based in Herford, Germany, operates what is reportedly the country’s only regulated crypto exchange, Bitcoin Deutschland AG, also referred to by its domain, Bitcoin.de. Upon acquisition of the banking institution, which according to its website focuses on securities trading, the crypto holding will in turn obtain the use of Tremmel’s banking license.

As a press release from Bitcoin Group SE states, the banking license will allow the holding to “significantly expand” its crypto-related offerings and operate ATMs for cryptocurrencies in Germany, stating it would be able to:

“issue its own cryptocurrency products, carry out proprietary trading in cryptocurrencies, and operate cryptocurrency ATMs is now available under the securities service provider's banking license.”

According to the press release, the purchase price for Tremmel is "in the lower seven-digit euro range.” The release notes that the closing is set to be completed in the first half of 2019, pending relevant regulatory approval.

At the end of October, Germany saw the establishment of its first Bitcoin ATM, set up in a Munich gambling hall.

Today, Cointelegraph reported that publicly-traded Canadian holding firm GoverMedia Plus Canada is set to acquire U.K.-based crypto exchange EXMO, both parties having recently signed a Letter of Intent (LOI).

Nvidia to See Q3 Strong Earnings: Experts from analytical firm Trefis have forecasted increased sales of Nvidia’s graphics processing units (GPUs) at the end of the third quarter (Q3) of this year. Trefis notes that, while overall GPU sales will be up, sales from cryptocurrency-related activities will remain in a downtrend.

American GPU manufacturer Nvidia is purportedly set to release its Q3 results on Nov. 15, and Trefis experts have predicted an earnings growth by slightly over 20 percent on a year-on-year basis.

The experts also forecast Tegra Processors and GPU segment growth “in the high teens.” Tegra Processor revenues will reportedly grow to $490 million in Q3, which — the experts explain — is led by Automotive and System on a Chip (SOC) modules for the Nintendo Switch gaming console.

Despite the overall positive outlook for GPU revenues, the report notes the decline in sales associated with crypto-related activities, as well as the impact of U.S. tariffs on some Chinese goods, which were introduced earlier this year.

The analysts reportedly expect consolidated revenues to be a bit under $3.10 billion in Q3, of which 84 percent could be attributed to GPUs, while Tegra Processors will make up for the rest. The report further explains:

“We forecast the [earnings per share] to be $1.63 in Q3, and $7.09 for the full year 2018. We use a [trailing twelve months] price to earnings multiple of 35 times to arrive at our price estimate of $248 for Nvidia. This implies a premium of over 30 percent to the current market price.”

As Cointelegraph previously reported, Nvidia’s stock price declined more than five percent in the extended session following an announcement of the company’s Q3 estimates. The firm’s revenue was affected by a decrease in crypto mining as digital currency markets slumped earlier this year.

Nvidia then reported that crypto mining sales were significantly lower than expected in Q2, adding that it does not expect to make significant blockchain-related sales for the rest of the year.

Meanwhile, Trefis experts outline an over 20 percent decline in Nvidia’s stock during the past month, which reportedly follows the weak Q3 figures from some tech stocks and the market’s reaction to the tariffs.

On Oct. 8, Canadian newspaper the Globe and Mail reported that Vancouver-based QuadrigaCX had been experiencing difficulties accessing $16.3 million of its funds since January, when CIBC froze five accounts belonging to the exchange’s payment processor, Costodian Inc., and its owner, Jose Reyes. The bank purportedly froze the accounts due to an inability to identify the funds’ owners.

CIBC subsequently requested the court to withhold the disputed funds and decide whether they belong to QuadrigaCX, Costodian, or the 388 users who had deposited the funds. In response, QuadrigaCX told the court that the bank froze the funds mistakenly and claimed to be the undisputed owner of the greater part of the funds.

A $19.6 million disputed sum between Canada’s largest crypto exchange QuadrigaCX and the Canadian Imperial Bank of Commerce (CIBC) has been handed into the custody of the Ontario Superior Court, per a court document filed Nov. 9.

How Judge Rules in Favor of Canadian Bank in Dispute With Crypto Exchange

In the recent court file, Judge Glenn Hainey of the Ontario Superior Court ruled in favor of the bank, agreeing that the owner of the funds is not clearly established. Per the ruling, CIBC now has to pass the funds over to the Accountant of the Superior Court, so the court can identify the owner of the money.

Regarding the legitimacy of CIBC’s actions in freezing the accounts, Judge Hainey concluded that he is “not in a position on this record to make any determination as to CIBC’s possible liability for doing so,” adding:

“Accordingly, it would be inappropriate for me to extinguish any liability that CIBC may have for freezing the accounts in the absence of an evidentiary record that establishes that CIBC has no liability.”

ALSO READ: Google G Suite Twitter Account Hacked to Promote 10,000 Bitcoin Scam
Gerald Cotten, chief executive at QuadrigaCX, told the Globe and Mail that “more importantly, the court has made no ruling yet on whether CIBC acted appropriately in freezing the funds in the first place. Regarding this point, we are considering our next steps.”

We also learnt that lawyers representing payment startup Ripple in its ongoing securities lawsuit are trying to move the case to a U.S. federal court. Court records confirm the application to move the case from the state to federal level, which would allow Ripple to prove definitively that its XRP token is not a security under U.S. law, should it win.

The lawsuit against Ripple Labs was originally filed in May by law firm Taylor-Copeland for the sale of unregistered securities. The claimants all lost money from purchasing XRP at high prices earlier this year, but opted to sue to include all possible parties affected since 2013.

Since the Judge has Ruled in Favour of CIBC Bank in Dispute With Crypto Exchange, what do you think will happen, will they refund the money back or what?

The G Suite Twitter account was reportedly hacked to advertise a BTC giveaway scam to the page’s more than 800,000 followers. Scammers supposedly spread a message luring users to participate in a fraudulent 10,000 BTC giveaway, concurrently announcing that Google’s G Suite now accepts cryptocurrency as a means of payment.

The scam follows a recent pattern of fraudulent activity involving the Twitter accounts of high-profile companies and individuals. On Nov. 5, several verified Twitter accounts were hacked to impersonate Elon Musk, with one reportedly collecting almost $170,000. Scammers changed the profile name and picture in order to pose as the Tesla CEO, and subsequently posted in comment threads started by the real Elon Musk, so as to give the impression of legitimacy.

As previously reported, Google introduced a ban on cryptocurrency advertisements on Jun. 1 to purportedly protect its customers from fraudulent offerings. The ban affected all Google products, meaning that companies would not be able to serve crypto-related ads on the search engine giant’s own sites, as well as third-party sites in its network.

Information reaching us is that, Xerox has been awarded a patent for a blockchain-driven auditing system for electronic files, by the U.S. Patent and Trademark Office (USPTO)

Xerox which is well known for its eponymous printing and digital copying appliances — first filed the patent in August 2017. The patent describes a blockchain-based system for the secure recording of revisions made to electronic documents.

The technology offered by Xerox can supposedly detect whether a file has been altered and tracks the history of changes made. Owing to the decentralized verification mechanism, the system thus becomes resistant to tampering, the filing states.

How Xerox Won Patent for Blockchain System That Tracks Revisions to Electronic Documents Award

Explaining the technology behind the patent, Xerox describes a series of blockchain nodes that may approve or dismiss each amendment made. The filing also implies that the management network will alert its users whenever a particular node fails to approve the document or the content differs from its verified version.

Xerox believes that the newly patented technology can be used to audit electronic files in many areas, such as medical and financial records, tax papers, and educational documents. The filing specifically mentions criminal investigation records, such as interview notes, crime scene photos and DNA test results that must be protected from alterations and tampering.

Major tech and electronics companies have filed a slew of patent applications for various proprietary iterations and applications of blockchain technology. A September report stated that IBM had filed more blockchain-related patent applications than any other company at the time of publication.

IBM has filed over 90 blockchain patents, the most recent of which aims to use blockchain technology to aid scientific research and provide a record of its results.

15 August 2018

Payoneer Vs Paypal for Nigerians

In a digital era where any service you are looking for can be offered to you from any part of the world, getting to know how you get paid while offering this service has most times been a questionable issue especially for newbies who are trying to start out in the industry.

While these might not be a major issue for tier one country, a country like Nigeria has suffered this plight.

Ranging from several restrictions to totally baring from different platform who in their reason perhaps said they wouldn’t want to do online business with Nigeria. While that is not the bone of content in this article, we will be looking into two payments platform that has giving Nigerians the opportunity to get paid from anywhere in the world while offering their services.

As an online business owner getting to know the best platform to use to get your fund should be among your top priority, and if you are a newbie still thinking of how to get in then this article got your covered.

Paypal

Virtually every online platform that deals monetary transaction makes use of Paypal. That’s how common and known it has become over the years. In fact, it’s hard to survive the digital market world with this gateway, which has led to most platform trusting and enable a payment gateway that can only be done with Paypal.

Though this is quite awesome of the digital terrain we are in now but it has its own hitches especially to the Nigerian communities. Before you head over to sign up for a Paypal account, have it at the back of your mind that with a Nigerian Paypal account, you are restricted to only buying with your
account.

This simply means that as a business owner, a Nigeria Paypal account is not a good fit for you. However, since most international client always demands email to send you your funds for any services rendered, it’s advisable you get a video tutorial that teaches how to get a Paypal Nigeria account that can send and receive money in Nigeria. Or you can probably pay to folks that know their way around it to get you registered. Whichever you chose to go with it, go for it.

But if you are not a Nigerian, simply go ahead to paypal.com and check if your country is restricted according to their TOS.

Payoneer

When it comes to receiving your fund or earning as an online entrepreneur in Nigeria, this is one of the best platforms you need to know about. Quite fortunate it is free, hassle free and easier to register.

While Paypal seems to have gain credence and dominance in the digital space, their restriction has always pushed Nigeria and their African countries to embark on a quest for search on a platform that can accommodate them. Seeing this laxity Payoneer came to our heed. With a very easy and simpler way to register and still get your funds right from any part of the world. With this payment gateway, you are entitled to a MasterCard that you can use to withdraw from your bank. Earlier in 2017, to get a Payoneer card is free but now you will have to pay for it to get it delivered to you at your home address. Basically no matter how you tend to look at it; for Nigerian, Payoneer remains the way to go for.

8 April 2018

Esporta Suites Hotel and Resorts Limited Ongoing Recruitment 2018.

Esporta Suites Hotel and Resorts Limited is in urgent need of a potter. Interested candidate should kindly apply immediately.

This organization is a nice and modern beautiful hotel, located in a very peaceful and quiet environment. Our hotel is one place that travelers can be sure to have a good time in. Our hotel is well maintained and all our rooms are well - appointed, spacious, fully furnished and well decorated.